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ITT will pay a dividend of $2.40 a share next year (D1). The price of ITT stock is currently $20 per share. If the required

ITT will pay a dividend of $2.40 a share next year (D1). The price of ITT stock is currently $20 per share. If the required rate of return is 15 percent, what is the expected growth rate of this stock's dividends?

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